Review of Yale Lectures 1 and 2 What is a strictly dominated strategy? Why should you never play one? Why do rational choices sometimes lead to poor decisions?

Slides:

Advertisements

Similar presentations

Concepts of Game Theory I

Advertisements

The Random Dresser Wilbur has – 3 left shoes, all of different colors – 5 right shoes, all of different colors – 4 right gloves, all of different colors.

Monte Hall Problem Let’s Draw a Game Tree… Problem 6, chapter 2.

BASICS OF GAME THEORY. Recap Decision Theory vs. Game Theory Rationality Completeness Transitivity What’s in a game? Players Actions Outcomes Preferences.

Mechanism Design without Money Lecture 1 Avinatan Hassidim.

Clicker Question-A Chicken Game 0, 0 0, 1 1, 0 -10, -10 Swerve Hang Tough Swerve Hang Tough Player 2 Pllayer 1 Does either player have a dominant strategy?

Assoc. Prof. Yeşim Kuştepeli1 GAME THEORY AND APPLICATIONS DOMINANT STRATEGY.

This Segment: Computational game theory Lecture 1: Game representations, solution concepts and complexity Tuomas Sandholm Computer Science Department Carnegie.

© 2009 Institute of Information Management National Chiao Tung University Game theory The study of multiperson decisions Four types of games Static games.

6-1 LECTURE 6: MULTIAGENT INTERACTIONS An Introduction to MultiAgent Systems

1 Game Theory. By the end of this section, you should be able to…. ► In a simultaneous game played only once, find and define:  the Nash equilibrium.

Chapter 6 Game Theory © 2006 Thomson Learning/South-Western.

9.2 Mixed Strategies Two players, Robert and Carol, play a game with payoff matrix (to Robert): Is the game strictly determined? Why? Robert has strategy:

EKONOMSKA ANALIZA PRAVA. Game Theory Outline of the lecture: I. What is game theory? II. Elements of a game III. Normal (matrix) and Extensive (tree)

Lecture 2A Strategic form games

Games What is ‘Game Theory’? There are several tools and techniques used by applied modelers to generate testable hypotheses Modeling techniques widely.

ECO290E: Game Theory Lecture 4 Applications in Industrial Organization.

Patchrawat Uthaisombut University of Pittsburgh

An Introduction to Game Theory Part I: Strategic Games

Chapter 6 © 2006 Thomson Learning/South-Western Game Theory.

Social Networks 101 P ROF. J ASON H ARTLINE AND P ROF. N ICOLE I MMORLICA.

Introduction to Nash Equilibrium Presenter: Guanrao Chen Nov. 20, 2002.

Eponine Lupo.  Game Theory is a mathematical theory that deals with models of conflict and cooperation.  It is a precise and logical description of.

Algoritmi per Sistemi Distribuiti Strategici

Problems from Chapter 3. Find Strategies for Simon.

Yale lectures 5 and 6 Nash Equilibrium – no individual can do strictly better by deviating – self enforcing in agreements Investment game – all invest.

Game Problems. Which number is closest to the circumference of the earth? A) 15,000 miles B) 25,000 miles C) 35,000 miles D) 45,000 miles E) 55,000 miles.

Yale lectures 3 and 4 review Iterative deletion of dominated strategies. Ex: two players choose positions on political spectrum. Endpoints become repeatedly.

Lectures in Microeconomics-Charles W. Upton Game Theory.

Dominant strategies Econ 171. Clicker Question 1, 3 5, 3 2, 4 7, 2 Player 2 Strategy A Strategy B Player 1 Strategy A Strategy B A ) Strategy A strictly.

Nash Equilibrium Econ 171. Suggested Viewing A Student’s Suggestion: Video game theory lecture Open Yale Economics Ben Pollack’s Game Theory Lectures.

Game Theory Here we study a method for thinking about oligopoly situations. As we consider some terminology, we will see the simultaneous move, one shot.

An introduction to game theory Today: The fundamentals of game theory, including Nash equilibrium.

Lectures in Microeconomics-Charles W. Upton Minimax Strategies.

QR 38, 2/22/07 Strategic form: dominant strategies I.Strategic form II.Finding Nash equilibria III.Strategic form games in IR.

Communication and Cooperation General Game PlayingLecture 8 Michael Genesereth / Nat Love Spring 2006.

On Bounded Rationality and Computational Complexity Christos Papadimitriou and Mihallis Yannakakis.

Game Theoretic Analysis of Oligopoly lr L R 0000 L R 1 22 The Lane Selection Game Rational Play is indicated by the black arrows.

UNIT II: The Basic Theory Zero-sum Games Nonzero-sum Games Nash Equilibrium: Properties and Problems Bargaining Games Bargaining and Negotiation Review.

Today: Some classic games in game theory

Click Here to Begin the Game CHOICE 1CHOICE 2CHOICE 3 CHOICE CHOICE

1 Applications Here we look at several applications. We will see a classic example of a dilemma that can arise in such games.

Advanced Artificial Intelligence Lecture 3B: Game theory.

Chapter 12 Choices Involving Strategy Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written.

Game Theory The Prisoner’s Dilemma Game. “Strategic thinking is the art of outdoing an adversary, knowing that the adversary is trying to do the same.

Dominant strategies. Clicker Question 1, 3 5, 3 2, 4 7, 2 Player 2 Strategy A Strategy B Player 1 Strategy A Strategy B A ) Strategy A strictly dominates.

UUCF Summer RE 2011 Brain Glitches Session 8: Ultimatum Game and The Volunteer’s Dilemma.

M9302 Mathematical Models in Economics Instructor: Georgi Burlakov 4.1.Dynamic Games of Incomplete Information Lecture

Game theory and competitor analysis Paul C. Godfrey Mark H. Hansen Brigham Young University.

Game theory is the study of the best play–safe strategy to adopt if 2 players are playing a game where decisions affect each other. Ex Two men are caught.

Lecture 5 Introduction to Game theory. What is game theory? Game theory studies situations where players have strategic interactions; the payoff that.

1 What is Game Theory About? r Analysis of situations where conflict of interests is present r Goal is to prescribe how conflicts can be resolved 2 2 r.

Normal Form Games, Normal Form Games, Rationality and Iterated Rationality and Iterated Deletion of Dominated Strategies Deletion of Dominated Strategies.

ECO290E: Game Theory Lecture 3 Why and How is Nash Equilibrium Reached?

Game Theory.  The analysis of situations in which players are interdependent.  Or…from the book….  a method of modelling the strategic interaction.

KRUGMAN'S MICROECONOMICS for AP* Game Theory Margaret Ray and David Anderson 65 Module.

Advanced Subjects in GT Outline of the tutorials Static Games of Complete Information Introduction to games Normal-form (strategic-form) representation.

Game theory basics A Game describes situations of strategic interaction, where the payoff for one agent depends on its own actions as well as on the actions.

Microeconomics Course E

11b Game Theory Must Know / Outcomes:

Multiagent Systems Game Theory © Manfred Huber 2018.

11b – Game Theory This web quiz may appear as two pages on tablets and laptops. I recommend that you view it as one page by clicking on the open book icon.

Game Theory Day 3.

Game Theory Day 4.

Finding Best Responses by Underlining Payoffs

Hosted by Type your name here

Lecture Game Theory.

Jeopardy Hosted by.

The dilemma overview paired into groups of two; one is Row, the other Column each simultaneously chooses either C or D a player choosing D increases own.

Presentation transcript:

Review of Yale Lectures 1 and 2 What is a strictly dominated strategy? Why should you never play one? Why do rational choices sometimes lead to poor decisions? Ex prisoner’s dilemma. Can’t we just “fix” it? What is a coordination problem? 0,03,-1 -1,31,1 0,03,1 1,30,0

Review of Yale Lectures 1 and 2 How does looking at what the other person will do change anything? Do I (row player) have a dominated strategy here? 0,0-1,-1 -3,31,1

Notation s i – strategy for player i S i – set of strategies for player i u i (s 1, … s i … s n ) s -i Strategies for all but player i. (In a two player game, the strategy for the other player) What is a weakly dominated strategy What is the difference between mutual knowledge and common knowledge? (ex: there is at least one pink hat)